Ireland – Company Formation 2018-12-03T10:41:42+00:00

Republic of Ireland
Company Formation Services

Ireland is situated to the west of Great Britain from which it is separated by the Irish Sea. Ireland is 83,270 square kilometers in size. The population of the whole of Ireland is approximately 5 million of which 3 million live in the Republic. Roughly one-third of the population live in Dublin and its surrounding suburbs. The Republic of Ireland is a parliamentary democracy with a written constitution. The Republic of Ireland is a full member of the European Union. Accordingly, Irish citizens have the automatic right to live and work in any member state of the Union.

Private Company Limited by Shares
Most frequently entity
Corporate Features

General

Type of Company : Resident Private Limited
Type of Law: Common
Shelf Company Availability: No
Our time to establish a new company: 10 days
Migration of Domicile Permitted: No
Corporate taxation: 12.5% on profits
Double taxation treaty access : Yes
Language of name: Latin Alphabet

Corporate Requirements

Minimum Number of Shareholders/Members: 1, normally 2
Minimum Number of Directors/Managers: 2
Corporate Directors: No
Company Secretary required: Yes
Minimum Paid Up: Euro 1
Usual authorised Capital: Euro 1,000,000

Local Requirements

Registered Office/Agent : Yes
Company Secretary: No
Local Directors: Yes (See below)
Local Meetings: No
Government Register of Directors/Managers : Yes
Government Register of Shareholders/Members: Yes

Annual Requirements

Annual Return: Yes
Annual Return Filing Fee: Euro 40

Accounts

Requirement to prepare: Yes
Audit Requirement : Yes, but small company exemption
Requirement to file accounts : Yes
Publicly accessible accounts : Yes

General Corporate Information
Type of Law

Common Law based on English Common Law

Principal Corporate Legislation

Companies Acts 1963 to 1990 as amended. In particular The Companies (Amendment) (No.2) Act 1999.

Company Information

Type of Company for International Trade and Investment Private limited companies

Procedure to Incorporate

Submission of Memorandum and Articles of Association, together with a Form A1 detailing the first directors, secretary and situation of the Registered Office. It is important to note that the Registry will only incorporate new companies that prove they intend to undertake some form of real business in Ireland.

Language of Legislation and Corporate Documents

English

Registered Office Required

Yes, must be maintained in the Republic of Ireland

Shelf Companies Available

Yes

Time Scale to Incorporate

1 to 2 working days

Compliance
Authorised and Issued Share Capital

There is no capital duty payable on the authorised capital. There is a 1% capital duty payable on the issued share capital. There is no maximum authorised capital. The minimum issued capital is two shares of par value.

Classes of Shares Permitted

Registered shares, preference shares, redeemable shares and shares with or without voting rights.

Bearer Shares

The concept of bearer shares does exist, but they are very rare because Central Bank consent is required before they can be issued, and such consent is likely to be refused. It is also believed that issuing bearer shares could affect a company’s status as a private company.

Taxation

Companies are subject to taxation and Ireland has anti-avoidance legislation in place.

Trading Income – 12.5%

Passive Income – 25%

Manufacturing, Software and certain Financial Services Operations – 10% being phased out up to 2010, then 12.5%

Collective Investment Funds – 0%

Shipping – Special tonnage tax regime – Nominal tax up to €5 million per annum

Patent Income – 0% generally on Irish invention

Double Taxation Agreements

Ireland is renowned as one of the best countries in the world in which to incorporate a company. One of the most compelling reasons for this is the extensive list of tax treaties that Ireland has in place.

Albania, Armenia, Australia, Austria, Bahrain, Belarus, Belgium, Bosnia-Herzegovina, Botswana, Bulgaria, Canada, Chile, China, Croatia, Cyprus, Czech Republic, Denmark, Egypt, Estonia, Ethiopia, Finland, France, Georgia, Germany, Greece, Hong Kong, Hungary, Iceland, India, Israel, Italy, Japan, Korea (Republic of), Kuwait, Latvia, Lithuania, Luxembourg, Macedonia, Malaysia, Malta, Mexico, Moldova, Montenegro, Morocco, Netherlands, New Zealand, Norway, Pakistan, Panama, Poland, Portugal, Qatar, Romania, Russia, Saudi Arabia, Serbia, Singapore, Slovak Republic, Slovenia, South Africa, Spain, Sweden, Switzerland, Thailand, Turkey, UAE -United Arab Emirates, Ukraine, UK- United Kingdom, USA- United States of America, Uzbekistan, Vietnam, Zambia

Financial Statements Required

Audited accounts are filed with the annual return. Annual accounts must be filed with the tax authorities.